File versioning and history is available with a 30-day cap or an additional cost per month. In September 2015, Backblaze launched a new product, B2 Cloud Storage. Being an infrastructure as a service (IaaS), it is targeted at software integration for different kinds of businesses. It directly competes with similar services, such as Amazon S3, Microsoft Azure and Google Cloud. In April 2018, Backblaze announced cloud computing partnerships that directly connect Backblaze's data centers with its partners, Packet and ServerCentral. The company said it plans to raise up to $650 million in its initial public offering.īackblaze, a cloud backup and storage company, announced Thursday that it has filed to go public on Nasdaq.In May 2020, Backblaze released an Amazon S3-compatible API, allowing customers to use existing tools and applications with B2 Cloud Storage without rewriting them. Backblaze was founded in 2007 and is headquartered in San Mateo, California. Backblaze goes public with $650M IPOīackblaze, a cloud backup and storage company, went public on Friday with an initial public offering (IPO) that raised $650 million. The company, which was founded in 2007, priced its shares at $23 each, valuating the company at $4.4 billion. Backblaze sold 28.3 million shares in the IPO, which was led by Goldman Sachs, Morgan Stanley, and Barclays.īackblaze provides cloud backup and storage services to more than half a million customers, including businesses and individual consumers. The company has a pay-as-you-go pricing model, with customers paying for the amount of storage they use. The company has been profitable since 2014, and generated $233 million in revenue in 2020. Backblaze plans to use the proceeds from the IPO to invest in its business and expand its product offerings. This is a big win for Backblaze and its investors, who have been waiting for the company to go public for years. The IPO gives the company a much needed influx of cash to invest in its business and expand its product offerings.įor Goldman Sachs, Morgan Stanley, and Barclays, the IPO is a major coup. The banks have been working with Backblaze for years and have been instrumental in helping the company grow. The IPO is also a big win for Nasdaq, which has been working to attract more tech IPOs. Nasdaq has been aggressively courting tech companies in recent years, and has been successful in convincing many to list on the exchange. The Backblaze IPO is another sign that the tech IPO market is heating up. After a slow start to the year, there have been a number of high-profile tech IPOs in recent months, including Airbnb, DoorDash, and Snowflake. With the Backblaze IPO, Nasdaq now has two of the three biggest tech IPOs of the year. The other is Snowflake, which raised $3.4 billion in its IPO earlier this month. Nasdaq is quickly becoming the go-to exchange for tech IPOs. In the past year, Nasdaq has also seen IPOs from Slack, 2. Cloud storage provider Backblaze prices IPO at $23 per shareīackblaze, a cloud storage provider, priced its IPO at $23 per share on Wednesday. The company raised $650 million in the offering.īackblaze is a cloud storage provider that offers unlimited storage for a monthly fee. The company priced its IPO at $23 per share on Wednesday, raising $650 million. The company was founded in 2007 and is headquartered in San Mateo, California. Backblaze has over 100,000 customers in over 150 countries.
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